The bet on growth pays off
as DRONE VOLT becomes an established major player
VILLEPINTE, France, March 23, 2016 (GLOBE NEWSWIRE) -- DRONE VOLT, the French leader in civilian drones fro professional applications, presented its annual results for 2015 (unaudited). Through fundraising with qualified investors, DRONE VOLT has significantly accelerated its human and technological investments in order to quickly gain a commanding and sustainable position in the rapidly growing market of civilian drone.
The bet on growth has already paid off, and the company has set up a strong foundation for further development. We note in particular:
· A doubling of sales to 3.7 million euros;
· An expansion of personnel from 6 to 20 employees;
· The establishment of an R&D department which gave rise to the DRONE VOLT PILOT® application in early 2016;
· The opening of subsidiaries in Scandinavia, Canada and in 2016 offices in the USA and Switzerland;
· The launch of the first products developed "by DRONE VOLT", including the Z18 flagship models (imaging) and Spray (dedicated to construction, health and environment);
· The move to a new office location and the creation the Buy & Fly test center.
This offensive strategy has resulted in a controlled operating profit of 0.9 million euros and a net result of -0.6 million euros after taking into account a tax credit.
Furthermore, DRONE VOLT has a strengthened financial structure in line with its ambitions. At 31 December 2015, the company thus had 1.2 million Euro capital (0.2 million a year earlier) and net cash of 0.5 million.
Dimitri Batsis, President of DRONE VOLT, commented: "I am very proud of the work of all the DRONE VOLT teams in 2015. We had to take up the challenge of rapidly growing because we know that in such a dynamic market, the capability to gain a commanding position quickly is essential. We have reached a critical mass that allows us to weigh-in with large business accounts and with suppliers, who now see us as a true partner. This position opens up excellent prospects for further development and is a significant growth catalyst for 2016."
The annual financial statements are currently being audited by the Statutory Auditors. The annual financial report will be made publicly available no later than April 30, 2016.
Next event: revenues for the 1st quarter 2016 during the week of April 11, 2016
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Regarding DRONE VOLT:
Created in 2011, and established in France, in Canada, in Denmark, in the United States and in Switzerland, DRONE VOLT is specialized in manufacturing and marketing civilian drones for professional use. As a complete partner, the company provides solutions to its customers for critical tasks and applications including service of products and the training of pilots. The young innovative firm, which had 3,7 million euro revenues in 2015 (+111 % growth y-o-y), is the leader in the European broadcasting and service drone industry. It also provides the administration and the execution of aerial photography and videography. Among its customers, the Company includes CERN, FRANCE TELEVISIONS, the Police station of the Air Transport (GTA), SPIE, TF1, FREEWAY PROD, etc. DRONE VOLT is qualified as an "Innovative Entreprise" by Bpifrance.
DRONE VOLT is a Company quoted on the market Alternext Paris:
Action: Mnémo: ALDRV.PA - Encode ISIN: FR0013088606 - Eligible: PEA, PEA-PME
BSA: Mnémo: DRVBS - encodes ISIN: FR001286054
More information on www.dronevolt.com
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Source: DRONE VOLT